Emotions can be your worst enemy when investing or selling in any market, I heard that many times before, but I really understood and internalized it when last year I sold antshares (NEO) tokens, because I was afraid to lose the profits that I had generated.
As every speculator I have made mistakes, but this was the worst of all, it also became the best lesson and learning experience in terms of making decisions in the speculative markets.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
Warren Buffett
In this sentence Warren Buffet points out two emotions that affect the decision making within the speculative markets, greed and fear.
GREED
We should not confuse ambition with greed, ambition is what drives an athlete to train stronger every day or can be the engine that gives life to a passionate entrepreneur, but greed does not bring anything positive, greed has only managed to create wars and damage homes, we could say that greed is the subjective and selfish animal of man. Ambition is useful, since it allows us to overcome fears and to launch new adventures and projects in life.
FEAR
I think this factor is the one that paralyzes many people in making decisions, fear to leave the safety of their comfort zone, to make new projects in their lives and also the one that induces to make decisions without thinking clear and make mistakes as was my experience with antshares. Fear is also an emotion that protects us, without fear we might take extreme and absurd decisions that would harm us. I think that we must maintain a balance and not allow fear to steal favorable opportunities when they arise.
The cryptocurrency market, like other markets, is based on the law of supply and demand, behind every offer and every demand there are people who are influenced by their emotions, creating trends and volatility in many cases.
Where do I go with all this?
Well, we are experiencing a bearish trend in the cryptocurrency market, I do not want the emotions of others or yours to affect your vision, on the contrary, try to be as objective as possible in your decisions, ** no **, I am not inviting you to invest or sell, but I want to exhort you to stop for a moment, stop listening to the speculative noise and execute intelligently.
The most important thing is to make our own decisions and not let ourselves be influenced by bloggers who only want to move the prices for their personal benefit.
I totally agree, we must do our own research. Thanks for your feedback!
That's the best investment advice anyone can give; and unfortunately it seems to be the hardest-earned advice. When I first became interested in investing, I was ruled by my emotions—I paid the consequences for that mistake.
Objectivity, maturity, and self-control are essential traits for every good investor.
Those three elements are crucial, some of us learn it the worst way, but the past is a good teacher, the important thing is to learn from those mistakes. I wish you the best of luck and thanks for your feedback.
Leviatan you post awesome .tnx my friend for share....
Thanks!
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Man u wise
thanks you for your post @leviathan7 ! here is some very good advices !
sometimes it's hard not to be influenced, but when you act really like you deeply feel and you win it's a crazy feeling !
a very nice weekend to you :)
I think it's easier for those of us who invested early, not because we've seen the ups and downs many times already, but because a lot of us early adopters (notice how I didn't use the word speculators) were believers in the technology, the reason for the technology needing to exist, and the financial situation the first world might find itself in a few years.
For those that invested for the reasons stated above, it's looking more and more like we're going to need this technology more moving forward, so when speculators looking to make a quick buck (and by quick I'm talking about less than 5 years for a return by traditional standards) just remember that it's not about the quick buck, it's about carrying a technology forward that the world is going to need. I'm looking at you, bitcoin and the lightning network..
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Absolutely spot on. Investment should be seen as numbers and never fall in love with your trades. No matter how much the absolute amount, think of % gains or losses. And do the research. Helps during tough times when market is being sold off like it is now. Having trust and confidence is key during a bear market. Specially in crypto because volatility can destroy the very best.
Thanks @karamyog , your comments always add value to the posts, I really appreciate that you share your knowledge with us.
Best Regards
Thanks a lot! I spend good enough time on steemit and like interacting on posts that i think are useful and original. Your post was definitely worth reading because during times like these, investors need a remider to not get emotional, but stay calm.